In response to an intense push by taxpayers and tax professionals over the last several days, Secretary of the Treasury Steven Mnuchin announced on March 20, 2020, that the 2019 income tax filing deadline (which was April 15, 2020) will be moved to July 15, 2020. The 90-day delay matches the previously announced extension to 2019 income tax payments and the first quarter payments for 2020. (See links to posts below)
This extension announcement came in the form of a tweet at 10:04 am EST from Mr. Mnuchin, at the request of the President, in further response to the Novel Coronavirus outbreak.
“At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
Given the many barriers to timely completion of tax returns presented by the Coronavirus outbreak, the decision is not only practical and reasonable, but allows taxpayers and tax professionals to more appropriately focus on the health of themselves and their families. Since this announcement was made without the formal passage of a bill, no specific details were given. Additional information is expected to be provided in an upcoming release from the Treasury Department.
The movement of the tax deadline will pose some challenges as Grossman Yanak & Ford LLP adapts to this new scenario. We expect to continue to provide service at the highest possible professional level, but ask that you exercise patience as we contact each client to determine next steps to ensuring that your needs are met in the most appropriate manner possible.